US Macroeconomic Data in Focus for the Market

Important economic data from the US this week could significantly impact the correlation between the Dollar Index (DXY) and Bitcoin.

Federal Reserve Chairman Jerome Powell's upcoming speech, along with Friday's labor market statistics, are set to influence the dollar's future trajectory.

On Friday, August 6, at 3:30 PM, critical figures for Nonfarm Payrolls and unemployment rates will be released, both of which are major market influencers.

A continued weakening of the dollar could provide a supportive environment for Bitcoin and other high-risk assets to grow. However, if the dollar gains strength, it might apply downward pressure on the crypto market, prompting investors to seek safer investments. $BTC